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Alibaba's cloud unit shines even as rivalry heats up in China's 'instant commerce' space

The Alibaba office building in Nanjing, Jiangsu province, China, on Aug. 28, 2024.CFOTO | Future Publishing | Getty ImagesAlibaba posted a better-than-expected bottom line in the June quarter fueled by accelerated sales at its cloud computing unit and a continued revival of its e-commerce business.Still, the Chinese giant's revenues came in under analyst forecasts.Alibaba's stock was up around 4% in premarket trade in the U.S. after initially dipping.Here's how Alibaba did in its fiscal first qu...

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